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Haven Capital Trust II, 10.25% Capital Securities (HAVNP)

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Last Post: 5/15/2011 5:24:02 PM - Followers: 2 - Board type: Free - Posts Today: 0

Haven Capital Trust II, 10.25% Capital Securities
Ticker Symbol: HAVNP     CUSIP: 41935L206     Exchange: NNM
Security Type:   Trust Preferred Security
IPO - 5/21/1999 - 2.20 Million Shares @ $10.00/share

 

SECURITY DESCRIPTION:  Haven Capital Trust II, 10.25% Capital Securities, liquidation amount $10.00 per share, guaranteed by Haven Bancorp, Inc., now a part of New York Community Bancorp (NYSE: NYB) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 6/30/2009 at 105.125% of the $10 per share principal amount which declines to 100% on or after 6/30/2019 (see schedule on page 49 of the prospectus), plus accrued and unpaid dividends, maturing 6/30/2029, distributions of 10.25% ($1.025) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 10.25% Junior Subordinated Deferrable Interest Debentures due 6/30/2029 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NNM
Chart
10.25%
$1.025
$10.00
$10.51
6/30/2009
6/30/2029
Baa2 / NF
12/20/10
3/31, 6/30, 9/30 & 12/31
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

 

Goto Parent Company's Record (NYB)

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#1   Haven Capital Trust II, 10.25% Capital Securities Soapy Bubbles 05/15/11 05:24:02 PM
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